Product Manager, Unsecured Loans

McLean , Virginia
Feb 19, 2018
Mar 01, 2018
Full Time


PenFed is hiring a Product Manager, Unsecured Loans at our headquarters in McLean, VA. The primary purpose of this job is to analyze, design and develop new Personal Loan products, product enhancements and pricing optimization. The Manager of Unsecured Loan Products will be a strategic partner who works cross-functionally to drive product development and enhancement from inception to completion.


Essential Functions

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. This is not intended to be an all-inclusive list of job duties and the position will perform other duties as assigned

  • Analyze product pricing and profitability and make recommendations on adjustments to programs.
  • Lead development of new products, refine existing products and develop ideas that promote the growth of unsecured loan products.
  • Identify product opportunities, assess risk and proactively develop product design enhancements and improved sales practices to increase unsecured loan products.
  • Create marketing strategy for unsecured loan product growth and work with marketing, IT and operations on development and implementation.
  • Assess operational policies and processes and make recommendations to ensure optimal member experience for unsecured loan products.
  • Make use of metrics and models that provide insights into response, balance, rate, segmentation, and price elasticity, etc. to identify target segments and marketing tactics.
  • Assess new products, channels, and business partner proposals for potential to increase unsecured loan products.
  • Remain informed of new ideas and developments through publications, membership in professional organizations and contact with other financial institutions.
  • Review competitive market practices and makes recommendations concerning adjustments to programs in related areas.
  • Create key metrics and system to monitor and measure unsecured loan product growth.
  • Develop marketing strategy for growing Personal Loans business and collaborate with Marketing teams to execute on marketing plan.
  • Identify growth and optimization opportunities for Personal Loan products and work cross functionally to implement strategies.
  • Research product opportunities, assess risk and proactively develop product design enhancements and improved sales practices to increase unsecured loan products.
  • Assess new products, channels, and business partner proposals for potential to increase unsecured loan products.
  • Interpret results of analysis; present recommendations, alternatives and implications.
  • Perform qualitative and quantitative analysis using analytical techniques, tools, models, simulation, etc.
  • Prepare and collaborate on presentations, reports, white papers, etc.
  • Full life-cycle project management
  • Establish and lead project teams


Education and Experience

Equivalent combination of education and experience is considered.

  • Bachelor’s Degree in Business, Finance with preference for quantitative fields or a related field is required.
  • Master’s Degree in Business, Finance, or in a quantitative field is preferred. Minimum of five (5) years’ of experience in related field Working knowledge of SAS, Tableau and Decision Science Tools

Supervisory Responsibility

This position will directly supervise employees.


Licenses and Certifications

There are no additional licenses and/or certifications required.


Work Environment

While performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise.

*Most roles require working in an office setting with moderate noise and the ability to lift 25 pounds.*



Ability to travel to various worksites and be on-call is required. 



About Us

Established in 1935, PenFed today is one of the country’s strongest and most stable financial institutions with over 1.6 million members and over $23 billion in assets. We serve members in all 50 states and the District of Columbia, as well as in Guam, Puerto Rico, Okinawa, and Portugal. We are federally insured by NCUA and we are an Equal Housing Lender. We are available to members worldwide, via the web, seven days a week, twenty-four hours a day.

Our mission isn’t simply to help our members get by. We exist to help them realize every ounce of their potential. We exist to educate, and to encourage. We exist to usher their dreams into the land of reality.

We provide our employees with a lucrative benefits package including robust medical, dental and vision plan options, plenty of paid time off, 401k with employer match, on-site fitness facilities at our larger locations, and more.


Equal Employment Opportunity

PenFed management will maintain and observe personnel policies which will not discriminate or permit harassment or retaliation against a person because of race, color, creed, age, sex, gender, gender identity, gender expression, religion, national origin, ancestry, marital status, military or veteran status or obligation, the presence of a physical and/or mental disability or medical condition, genetic information, sexual orientation, and all statuses protected by applicable state or local law in all recruiting, hiring, training, compensation, overtime, position classifications, work assignments, facilities, promotions, transfers, employee treatment, and in all other terms and conditions of employment. PenFed will also prohibit retaliation against individuals for raising a complaint of discrimination or harassment or participating in an investigation of same.

PenFed will also reasonably accommodate qualified individuals with a disability so that they can apply for a job or perform the essential functions of a job unless doing so causes a direct threat to these individuals or others in the workplace and the threat cannot be eliminated by reasonable accommodation or if the accommodation creates an undue hardship to PenFed. Contact human resources (HR) with any questions or requests for accommodation at 703-838-1568.

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